Spring is traditionally an active time for real estate. There is an abundance of inventory and home buyers actively looking. If you are thinking about buying or listing this Spring, this blog offers Farmington Hills Spring real estate market information.
The Spring is usually a less busy season for most families. During the Fall months, back-to-school is busy for families with children. November and December is occupied with the holidays. Early in the year comes tax season. Only after that do schedules clear up for most. The sun is out longer, the climate gets warmer, and people generally take on more during the Spring. As a result, Spring is a more active time of year for real estate.
Volume of Listings
Sellers usually think that their homes look best in the spring and summer months and that this will lead to a better sale price. They naturally begin fixing up the outside of the property as the temperature increases and trees start to grow. The extended days also grant a little extra time for these tasks. The Spring usually brings an influx of new properties to the market as a result. This also means higher competition, so home owners must think carefully about pricing their properties properly to accomplish a prompt sale. They should also simplify the showing process. Buyers may pass up properties with complicated or restrictive showing options. With well thought out pricing and showing procedures, Sellers can take advantage of the Spring real estate market.
Buyers also have more time to spend on their property search during the Spring and like seeing more inventory. Unfortunately, inventory is fairly low in most places,… well below market demand. Potential buyers will need to decide quickly in such a market, particularly for homes in great condition.
Farmington Hills Spring Real Estate Market Information
To take advantage of the Spring real estate market, get advice and guidance from a skilled real estate professional. For sellers, it is essential not to overprice or lose marketing time. Buyers can keep updated on new listings with tools from a real estate agent. It is also important for buyers to maintain perspective. With some guidance, you can accomplish your real estate goals for this Spring.} For more Farmington Hills Spring real estate market information, contact Tom Gilliam at RE/MAX Classic by calling 248-790-5594 or emailing [email protected]
Being a real estate agent can be rewarding and fulfilling career for many agents, but there’s also, like any job, accountability. Home buyers and sellers alike put their trust in you in making the most critical financial decisions they will ever make, and it is up to the agent to honor that trust. The competition here in the Oakland County area is fierce between agents as inventory’s are down 12% compared to last year at this time. It is true that the market is off to a slower start but it is bound to come back strong due to interest rates remaining at all time lows and property values in our area are up. The current conditions have home sellers being bombarded by agents inquiring to help them sell their homes in this spring market in Oakland County, but home sellers need to demand the best from their agents.
Now that the busy spring real estate season is here. Are you thinking of selling your house? Are you dreading having to deal with strangers walking through the house? Are you concerned about getting the paperwork correct? Hiring a professional real estate agent can take away most of the challenges of selling. A great agent is always worth more than the commission they charge just like a great doctor or great accountant. You want to deal with one of the best agents in your marketplace. To do this, you must be able to distinguish the average agent from the great one. Here are the top 5 demands to make of your Real Estate Agent when selling your house:
1. Tell the truth about the price
Too many agents just take the listing at any price and then try to the ‘work the seller’ for a price correction later. Demand that the agent prove to you that they have a belief in the price they are suggesting. Make them show you their plan to sell the house at that price – TWICE! Every house in today’s market must be sold two times – first to a buyer and then to the bank. The second sale may be more difficult than the first. The residential appraisal process has gotten tougher. A survey showed that there was a challenge with the appraisal on 24% of all residential real estate transactions. It has become more difficult to get the banks to agree on the contract price. A red flag should be raised if your agent is not discussing this with you at the time of the listing.
2. Understand the timetable with which your family is dealing
You will be moving your family to a new home. Whether the move revolves around the start of a new school year or the start of a new job, you will be trying to put the move to a plan. This can be very emotionally draining. Demand from your agent an appreciation for the timetables you are setting. Your agent cannot pick the exact date of your move, but they should exert any influence they can, to make it work.
3. Remove as many of the challenges as possible
It is imperative that your agent knows how to handle the challenges that will arise. An agent’s ability to negotiate is critical in this market.
Remember: If you have an agent who was weak negotiating with you on the parts of the listing contract that were most important to them and their family (commission, length, etc.), don’t expect them to turn into a super hero when they are negotiating for you and your family with the buyer.
4. Help with the relocation
If you haven’t yet picked your new home, make sure the agent is capable and willing to help you. The coordination of the move is crucial. You don’t want to be without a roof over your head the night of the closing. Likewise, you don’t want to end up paying two housing expenses (whether it is rent or mortgage). You should, in most cases, be able to close on your current home and immediately move into your new residence.
5. Get the house SOLD!
There is a reason you are putting yourself and your family through the process of moving. You are moving on with your life in some way. The reason is important or you wouldn’t be dealing with the headaches and challenges that come along with selling. Do not allow your agent to forget these motivations. Constantly remind them that selling the house is why you hired them. Make sure that they don’t worry about your feelings more than they worry about your family. If they discover something needs to be done to attain your goal (i.e. price correction, repair, removing clutter), insist they have the courage to inform you.
Good agents know how to deliver good news. Great agents know how to deliver tough news. In today’s market, YOU NEED A GREAT AGENT!
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